A Flyin Skein

Located in Seward, Alaska, A Flyin Skein is a knitting specialty store, and owner, Mrs. Cindy Clark called the Kenai Peninsula Small Business Development Center, part of the Alaska Small Business Development Center to request assistance with obtaining capital for the purchase of store inventory and working capital to start her yarn retail business. With the assistance of Kenai Peninsula SBDC Director Mark Gregory, Ms. Clark obtained a $50,000 SBA BLX loan. She worked intensively with the Kenai Peninsula SBDC to build a business plan utilizing free online software with ActivePlans. She needed assistance with developing financial projections and was assisted with SBDC excel budget templates to complete her projections. She also requested assistance with site reviews in choosing a location and was assisted with on site review of various proposed facilities.

Mrs. Clark and her husband had received business assistance from Mark Gregory, Kenai Peninsula SBDC director for the past nine years. The Clarks’ small business background includes ownership of the Mt. Marathon Café, which was later sold, and her husband’s business Midnight Sun Jewelry and Gifts, a business that they started in Seward a year ago. With experience in business, Cindy knew the importance of business planning and was committed to starting her business the right way. In addition to meeting with Mrs. Clark in Seward on multiple occasions over the course of four months, the Kenai Peninsula SBDC also provided a business planning workshop at the Soldotna office. Significant contact was also provided by phone and e-mail that culminated in over ten hours of assistance to the client in strategic business planning, budget projections, and loan packaging. By utilizing online business planning tools with ActivePlans, SBDC excel budget templates, and SBA BLX loans, the client’s business is now a reality.